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Chinanews, Beijing, March 6 – According to Beijing Local Taxation1 Administration, all earning an annual income of over 120 thousand yuan will have to report their income to tax authorities before March 31, or a fine will be imposed on them, no matter whether they have paid the tax or not.
The reporting started on last January 1, and 400 thousand people countrywide had done so by March 1. In Beijing alone, 48,588 people had done so, second only to Guangdong Province. It is estimated that 250 thousand Beijingers have met the specified2 standard, not taking tax-free income into consideration. Beijing Local Taxation Administration will send notifications to those who fail the declaration before the deadline.
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